2013 Registration document and annual financial report - page 180

Registration Document 2013
Financial Statemements
Statutory auditors’ report on the consolidated financial statements
Year ended December 31, 2013
This is a free translation into English of the Statutory Auditors’ report
issued in French and is provided solely for the convenience of English
speaking readers.The Statutory Auditors’ report includes information
specifically required by French law in such reports, whether qualified
or not. This information is presented below the opinion on the
consolidated financial statements and includes explanatory paragraphs
discussing theAuditors’ assessments of certain significant accounting
and auditing matters. These assessments were considered for the
purpose of issuing an audit opinion on the consolidated financial
statements taken as a whole and not to provide separate assurance
on individual account captions or on information taken outside of
the consolidated financial statements.This report should be read in
conjunction with and construed in accordance with French law and
professional auditing standards applicable in France.
To the Shareholders,
In compliance with the assignment entrusted to us by the Annual
Shareholders’ Meeting, we hereby report to you for the year ended
December 31, 2013 on:
the audit of the accompanying financial statements of Accor;
the justification of our assessments;
the specific verification required by law.
These consolidated financial statements have been approved by
the Board of Directors. Our role is to express an opinion on these
consolidated financial statements, based on our audit.
I. Opinion on the consolidated financial
We conducted our audit in accordance with professional standards
applicable in France. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
consolidated financial statements are free of material misstatement.
An audit includes examining, using sample testing techniques or
other selection methods, evidence supporting the amounts and
disclosures in the consolidated financial statements. An audit also
includes assessing the accounting principles used and significant
estimates made, as well as evaluating the overall presentation of
the financial statements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a reasonable
basis for our opinion.
In our opinion, the consolidated financial statements give a true and
fair view of the assets and liabilities and of the financial position
of the Group as at December 31, 2013 and of the results of its
operations for the year then ended in accordance with the IFRSs
as adopted by the European Union.
II. Justification of our assessments
In compliance with the requirements of Article L.823-9 of the
French Commercial Code (Code de commerce) relating to the
justification of our assessments, we bring to your attention to the
following matters:
notes 1.E.4 and 1.E.6 to the consolidated financial statements
describe the accounting policies and methods used to account
for leases and sale-and-leaseback transactions as well as the
policies and methods used to assess the recoverable amount of
property, plant and equipment, intangible assets, and goodwill.
We have verified the appropriateness of these accounting policies
and methods and of the related disclosures provided in notes 6
and 13 to the consolidated financial statements. We have also
examined the consistency of the data and assumptions used and
the supporting documentation, and on these bases assessed the
reasonableness of the estimates made;
notes 2.E, 12 and 33 to the consolidated financial statements
present the accounting impact of the restructuring operations
carried out or initiated by your Company during the year, in
particular the implementation of the voluntary separation plans
in the Parisian head offices. Our work consisted of assessing
the recognition of the expense in 2013 and the reasonableness
of the estimates underlying the amount of provisions recorded
for the year.
note 39 to the consolidated financial statements describes the legal
proceedings currently underway regarding tax audits in various
countries, as well as Management’s positions concerning these
disputes. Our work consisted of assessing the reasonableness of
the elements on which these positions are based and verifying
that the note to the consolidated financial statements provides
appropriate disclosures.
These assessments were made in the context of our audit of the
consolidated financial statements, taken as a whole, and therefore
contributed to the formation of the opinion expressed in the first
part of this report.
III. Specific verification
As required by law and in accordance with the professional standards
applicable in France, we have also verified the information presented
in the Group’s management report.
We have no matters to report as to its fair presentation and
consistency with the consolidated financial statements.
Neuilly-sur-Seine, March 18, 2014
The Statutory Auditors
French original signed by:
Pascale Chastaing-Doblin
ERNST &YOUNG et Autres
Jacques Pierres
1...,170,171,172,173,174,175,176,177,178,179 181,182,183,184,185,186,187,188,189,190,...344
Powered by FlippingBook